Global Signal Lease Buyout Agreement
If you are looking for Global Signal’s website, please visit www.crowncastle.com.
Cell Tower Attorney is a law firm that assists landowners approached by Global Signal with negotiating the terms and conditions of a cell site lease buyout agreement. Global Signal is a registered trademark of Global Signal, Inc. We are not affiliated in any way with Global Signal.
Generally, Global Signal purchases a landowner’s right to the income from a cell site on its property in the form of an Easement Purchase Agreement. If you have been approached by a representative of Global Signal interested in purchasing your cell site lease, the following is a description of the standard Global Signal Easement Purchase Agreement:
- Agreement to Purchase - by entering into the Global Signal Easement Purchase Agreement, the landowner agrees to i) grant Global Signal a 37 year easement to the leased premises and ii) assign the cell site lease agreement to Global Signal.
- Cell Site Lease - the landowner represents and warrants that there are no existing defaults by the landowner or the carrier tenant under the cell site lease, the rent is fully paid and current, the landowner is the sole owner of the Premises, and the landowner owns all rights under the cell site lease. In addition, the parties agree to execute an assignment of the cell site lease.
- The Premises - the landowner represents and warrants that it has good and marketable title to the leased premises and there are no outstanding liens or encumbrances on the premises. In addition, there is no pending litigation involving the premises and there are no proposed increases in property taxes.
- Conditions to be Satisfied - Global Signal’s obligations under the Global Signal Easement Purchase Agreement are subject to the conditions that i) all representations and warranties of the landowner set forth in the Agreement are accurate and ii) Global Signal has received a title commitment and survey as well as approval of the Agreement by its Board of Directors. In the event any representation or warranty is inaccurate, Global signal may terminate the Agreement or extend the closing date by an additional period of time.
- Default – in the event of a landowner default, the landowner has 20 days to cure. In the event the landowner fails to cure, Global Signal has all rights and remedies available at law or equity, including specific performance or termination.
- Closing - at the closing, the landowner must execute and deliver the Global Signal Easement Purchase Agreement, an Assignment of the cell site lease, and access and utility easements to the Premises, if necessary. Global Signal agrees to pay the closing costs associated with the premium for the landowner’s and its lender’s title insurance policies as well as the cost of a survey. The landowner is responsible for any taxes in connection with any document relating to the purchase of the Easement as well as all recording costs.
- Inspection and Remedies - the landowner agrees to grant Global Signal access to the premises for the purpose of conducting inspections, subsurface testing and other activities it deems necessary, at Global Signal’s sole cost and expense. In the event the landowner refuses to close the transaction, Global Signal shall be entitled to, among other available remedies, specific performance as well as injunctive relief.
Cell Tower Attorney has experience in negotiating these and other similar provisions directly with Global Signal. We can assist you in limiting Global Signal's ability to use the leased premises beyond the scope set forth in the original cell site lease as well as protect your existing and future rights and obligations as they apply to the cell site carrier as well as Global Signal. If you are looking for information regarding the appropriate buyout amount, our related company, Steel in the Air, can assist you with determining a fair market value for a Global Signal lease buyout.
If you have been approached, please consider contacting us for assistance in your lease negotiation.
*** If you are looking for Global Signal’s website, please visit www.crowncastle.com. We are not affiliated in any way with Global Signal***